What is a dischargeable debt?

A dischargeable debt is a type of debt that is eligible to be forgiven in a Chapter 7 Bankruptcy case in Virginia. In other words, a dischargeable debt is one that is covered under the bankruptcy laws and can be wiped out or forgiven by a bankruptcy court. The types of debt that are eligible for discharge will depend on the type of bankruptcy filing. In a Chapter 7 Bankruptcy in Virginia, some common types of dischargeable debt include credit card debt, medical bills, certain taxes, personal loans, and even certain types of judgments. All of these debts can be wiped out if the debtor qualifies for a Chapter 7 Bankruptcy. At the same time, there are certain types of debt that are not dischargeable in a Chapter 7 Bankruptcy in Virginia. These include student loans, certain taxes, and certain types of government debt. Most of these debts have to be paid in full, regardless of whether or not the debtor has filed for bankruptcy. As a general rule, any debt that is secured by property or collateral, such as a mortgage or car loan, is not dischargeable in a Chapter 7 Bankruptcy. In other words, the debtor must either pay off or restructure the loan in order to get out of it. It is important to remember that in order to qualify for bankruptcy, you must first meet certain income requirements and pass a means test. If you meet these requirements, then you may be eligible for a dischargeable debt that can be wiped out by a bankruptcy court.

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What is a dischargeable debt?

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